Molly Bailey and her partner Michael Radford lived in a granny flat at Molly’s parents place for 18 months while they saved for their first home. When it came time to sign the paperwork for their loan and settle in their perfect first home as a couple, they were thrilled.

“We love it. It’s a perfect first home for us. There are just a few little things we want to do to it and it will be perfect,” says Molly.

She says the new home was in good condition, but still with a bit of work to do to make it their own.

“We wanted something that wasn’t falling apart but not something that was completed, so this was a happy medium,” says Molly .

“We wanted to be able to put our own touches on the place and not spend an extra $60,000 [on the purchase] for something if we could renovate it for $10-$20,000 and save a bit of money.”

Molly and Michael saved and searched for their first home for a year and a half. Rather than being a frustrating experience, Molly said applying for the couple’s first home loan was surprisingly straightforward.

“I actually found it really easy. I thought it would be daunting and scary but I didn’t find the process to be like that at all.”

After banking with Newcastle Permanent for a few years, Molly said she knew she wanted to secure her first home loan with the building society.

“I didn’t know much about Newcastle Permanent until a couple of years ago and then once we started banking there I thought, I want to get our home loan with them,” Molly says.

“Based on interest rates, products and flexibility, Newcastle Permanent was way ahead of the other banks.”

Mozo’s Expert’s Choice Awards recently named Newcastle Permanent Home Lender of the Year for 2018.

Molly was right. This year, Mozo’s Expert’s Choice Awards named Newcastle Permanent 2018 Home Lender of the Year.

This year the Mozo Expert’s Choice team analysed 525 home loans issued by 88 Australian lenders, including the four major banks.

Mozo Director Kirsty Lamont says the experts analysed over 500 different home loans and there was one clear winner.

“To receive the Mozo Expert’s Choice Award indicates Newcastle Permanent home loans are the country’s best in terms of value,” she says.

"Competition in the home loan market is rife right now. Our Mozo Expert’s Choice Home Loan Awards are here to help borrowers cut through slick marketing by spotlighting the lenders delivering borrowers the best value for money.”

Mozo also presented Newcastle Permanent awards for its individual products Packaged Home Loan, Split Home Loan, Fixed Home Loan and Investor Fixed Home Loan.

Newcastle Permanent CEO Terry Millett said the achievement was proof that the building society’s home loans were the most competitive in the market.

"We can offer our customers a premium product and service experience because we’re 100 per cent customer-owned,” Mr Millett says.

“This means that we don’t operate like a major bank to make profits for shareholders. Instead our focus is on reinvesting back into our products to offer competitive rates for our customers and support our community.”